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Polish PMI hits four-month low, but manufacturing stays strong

01.09.2021 13:15
Poland’s Purchasing Managers' Index (PMI) slid to a four-month low in August, but the country's manufacturing sector remained on a firm growth footing as the coronavirus crisis receded, according to IHS Markit, a UK-based provider of financial information services.
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The British market researcher reported on Wednesday that the Polish PMI fell for the second month running to 56 in August, from July's 57.6.

But it said the overall rate of growth was "still one of the strongest" since 1998.

"Output expectations for the next 12 months remained positive, with many firms forecasting double-digit growth as they expected the economy to rebound following the pandemic," IHS Markit said.

Its Economics Director Trevor Balchin was cited as saying that the Polish manufacturing sector "continued to lose momentum in August, but overall conditions continued to improve strongly with the PMI at its fourth-highest level since December 2010."

Poland’s PMI in April last year fell to its lowest level on record amid virus fears, sinking to 31.9 from 42.4 a month earlier at the height of the COVID-19 crisis, according to the British market researcher.

The PMI is a composite indicator of manufacturing performance evaluated on the basis of new orders, output, employment, suppliers’ delivery times and stocks of purchases.

Any figure greater than 50 indicates overall improvement of the sector, according to IHS Markit.

(gs)

Source: PAP, markiteconomics.com